The NASDAQ OMX Group, Inc. (Nasdaq: NDAQ) announced the results of the annual re-ranking of the NASDAQ-100 Index (Nasdaq: NDX), which will become effective prior to market open on Monday, December 23, 2013.

"The NASDAQ-100 Index is a globally recognized brand that includes 100 of the world's most dynamic non-financial stocks listed on The NASDAQ Stock Market," said NASDAQ OMX Executive Vice President John L. Jacobs. "The objective, transparent re-ranking process ensures that the NASDAQ-100 remains a relevant investable index that is the underlying benchmark for approximately 7,200 products in 23 countries with a notional value of $1 trillion."

The NASDAQ-100 Index is composed of the 100 largest non-financial stocks listed on The NASDAQ Stock Marketâ and dates to January 1985 when it was launched along with the NASDAQ Financial-100 Indexâ, which is comprised of the 100 largest financial stocks on NASDAQâ. These indexes act as benchmarks for financial products such as options, futures, and funds. The NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witching expiration Friday of the quarter.

On a cumulative price return basis, the NASDAQ-100 Index has returned almost 2800% since inception, although past performance is not indicative of future performance.

The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust (Nasdaq: QQQ), which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index performance. In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.

As a result of the re-ranking, the following five securities will be removed from the Index: Fossil Group, Inc. (Nasdaq: FOSL), Microchip Technology Incorporated (Nasdaq: MCHP), Nuance Communications, Inc. (Nasdaq: NUAN), Sears Holdings Corporation (Nasdaq: SHLD) and DENTSPLY International Inc. (Nasdaq: XRAY).